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Cards In This Set
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The Dow/Shell Chemical "epoxy" example given in class was a classic illustration of:
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C. Competition and it's influence on market segmentation strategy.
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Why is it difficult to innovate (i.e., develop new products)?
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C. It takes many ideas to obtain one successful product.
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On of the primary reasons for firms to have a formal "new product development" process is:
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D. reduce the risk of product failure.
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Perhaps the most important market implication of the psychoanalytical model is that buys are not only motivated by the economical functional aspects of a product but also by its:
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D. Symbolism
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Some say demand for industrial goods is derived, what is it derived from?
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B. Consumer demand
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Theoretically based on the marketing concept which of the following would most likely be the best source for new product ideas?
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C. Customers
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Which os the following is generally true about the Self Image-Brand Image relationships?
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B. In buying, the purchaser may try to match the two.
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CRM stands for _________ .
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C. Customer relationship management
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__________ is the process by which people select, organize, and interpret info. from the outside world.
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C. Social class affects shopping patterns
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Donna wants to buy a new coat, During the _____ stage of her purchase decision she will ask her friends to recommend a store and/or a style of coat. She will search the newspaper for coat sales, and she will visit nearby stores to see what is available in her price range.
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E. Information search
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Which of the following statements about buying centers is true?
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E. The members of a buying center typically participate in a cross-functional team.
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Which of the following is true regarding demographics variables as market segmentation variables?
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A. They are readily measurable
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Which model of consumer behavior totally explains why people purchase the way they do?
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E. None of the models totally explain purchasing behavior
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During the information search stage of the consumer decision-making process, what is the evoked set?
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The group from which the consumer will try to solve his/her current problem
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Taking a heterogenous market and dividing it into a number of smaller, more homogeneous submarkets is referred to as:
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B. Market Segmentation
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